NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN,
INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

TORONTO, Feb. 6, 2012 /PRNewswire/ - Canaccord Financial Inc. makes this
announcement to update shareholders on the status of the recommended
acquisition of Collins Stewart Hawkpoint by Canaccord, particulars of
which were set out in the scheme document circulated to Collins Stewart
Hawkpoint plc shareholders on January 14, 2012 (the "Scheme
Document"). Unless otherwise defined in this announcement, all
capitalised terms used in this announcement shall have the same meaning
as in the Scheme Document.

The Court Meeting and the subsequent General Meeting convened by the
notices contained in the Scheme Document are due to take place on
Thursday, February 9, 2012. The results of those meetings will be
announced by Collins Stewart Hawkpoint plc as soon as practicable
thereafter.

Subject to the resolutions put to the Court Meeting and the General
Meeting having been passed in each case by the requisite majority, the
hearings of the claims before the Court to sanction the Scheme and to
confirm the related Capital Reduction will take place following the
satisfaction of conditions set out in Part III of the Scheme Document,
including the obtaining of regulatory clearances.

Formal clearances from the UK Financial Services Authority, the Monetary
Authority of Singapore and certain other regulatory authorities have
not yet been obtained, and Canaccord and Collins Stewart Hawkpoint
propose to change the indicative dates for implementation of the Offer
given in the Scheme Document to reflect the current position in
relation to these clearances. Subject to satisfaction of the
conditions, the revised indicative dates for the Court hearing to
sanction the Scheme and confirm the Capital Reduction are respectively
March 16, 2012 and March 21, 2012. On this basis, dealings in Collins
Stewart Hawkpoint Shares will be suspended at 4.30 p.m. on March 16,
2012 and the Scheme will become effective at 8.00 a.m. on March 22,
2012. A further announcement will be made through a Regulatory
Information Service if these indicative dates are changed.

Hawkpoint, which is authorised and regulated in the UK by the Financial
Services Authority, is acting exclusively for Collins Stewart Hawkpoint
and no one else in connection with the Offer and this announcement and
will not be responsible to anyone other than Collins Stewart Hawkpoint
for providing the protections afforded to clients of Hawkpoint or for
providing advice in connection with the Offer or any matter referred to
herein.

Nomura, which is authorised and regulated in the UK by the Financial
Services Authority, is acting exclusively for Collins Stewart Hawkpoint
and no one else in connection with the Offer and this announcement and
will not be responsible to anyone other than Collins Stewart Hawkpoint
for providing the protections afforded to clients of Nomura or for
providing advice in connection with the Offer or any matter referred to
herein.

Keefe, Bruyette & Woods, which is authorised and regulated in the UK by
the Financial Services Authority, is acting for Canaccord and no one
else in connection with the Offer and this announcement and will not be
responsible to anyone other than Canaccord for providing the
protections afforded to clients of Keefe, Bruyette & Woods or for
providing advice in connection with the Offer or any matter referred to
herein.

Charles Stanley Securities, which is authorised and regulated in the UK
by the Financial Services Authority, is acting for Canaccord and no one
else in connection with the Offer and this announcement and will not be
responsible to anyone other than Canaccord for providing the
protections afforded to clients of Charles Stanley Securities or for
providing advice in connection with the Offer or any matter referred to
herein.

This announcement has been prepared for the purposes of complying with
English law and the City Code and the information disclosed may not be
the same as that which would have been disclosed if this announcement
had been prepared in accordance with the laws of jurisdictions outside
the United Kingdom.

The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law. Persons who are not resident in
the United Kingdom or who are subject to other jurisdictions should
inform themselves of, and observe, any applicable requirements.

Copies of this announcement are not being, and must not be, directly or
indirectly, mailed or otherwise forwarded, distributed or sent in or
into or from any jurisdiction where to do so would violate the laws of
that jurisdiction and persons receiving such documents (including
custodians, nominee and trustees) must not mail or otherwise forward,
distribute or send it in or into or from any Restricted Jurisdiction.

A copy of this announcement will be made available, free of charge, at www.canaccordfinancial.com by no later than 12 noon (London time) on February 7, 2012.

Dealing disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or
more of any class of relevant securities of an offeree company or of
any paper offeror (being any offeror other than an offeror in respect
of which it has been announced that its offer is, or is likely to be,
solely in cash) must make an Opening Position Disclosure following the
commencement of the offer period and, if later, following the
announcement in which any paper offeror is first identified. An Opening
Position Disclosure must contain details of the person's interests and
short positions in, and rights to subscribe for, any relevant
securities of each of (i) the offeree company and (ii) any paper
offeror(s). An Opening Position Disclosure by a person to whom Rule
8.3(a) applies must be made by no later than 3.30 pm (London time) on
the 10th business day following the commencement of the offer period
and, if appropriate, by no later than 3.30 pm (London time) on the 10th
business day following the announcement in which any paper offeror is
first identified. Relevant persons who deal in the relevant securities
of the offeree company or of a paper offeror prior to the deadline for
making an Opening Position Disclosure must instead make a Dealing
Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested
in 1% or more of any class of relevant securities of the offeree
company or of any paper offeror must make a Dealing Disclosure if the
person deals in any relevant securities of the offeree company or of
any paper offeror. A Dealing Disclosure must contain details of the
dealing concerned and of the person's interests and short positions in,
and rights to subscribe for, any relevant securities of each of (i) the
offeree company and (ii) any paper offeror, save to the extent that
these details have previously been disclosed under Rule 8. A Dealing
Disclosure by a person to whom Rule 8.3(b) applies must be made by no
later than 3.30 pm (London time) on the business day following the date
of the relevant dealing.

If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a paper
offeror, they will be deemed to be a single person for the purpose of
Rule 8.3.

Opening Position Disclosures must also be made by the offeree company
and by any offeror and Dealing Disclosures must also be made by the
offeree company, by any offeror and by any persons acting in concert
with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on the
Takeover Panel's website at www.thetakeoverpanel.org.uk, including
details of the number of relevant securities in issue, when the offer
period commenced and when any offeror was first identified. You should
contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if
you are in any doubt as to whether you are required to make an Opening
Position Disclosure or a Dealing Disclosure.

ABOUT CANACCORD FINANCIAL INC.:

Through its principal subsidiaries, Canaccord Financial Inc. is a
leading independent, full-service financial services firm, with
operations in two principal segments of the securities industry: wealth
management and global capital markets. Since its establishment in
1950, Canaccord has been driven by an unwavering commitment to building
lasting client relationships. We achieve this by generating value for
our individual, institutional and corporate clients through
comprehensive investment solutions, brokerage services and investment
banking services. Canaccord has 53 offices worldwide, including 37
Wealth Management offices located across Canada. Canaccord Genuity,
the international capital markets division, operates in Canada, the
U.S., the U.K., China, Hong Kong, Australia and Barbados.

Canaccord Financial Inc. is publicly traded under the symbol CF on the
TSX and the symbol CF. on AIM, a market operated by the London Stock
Exchange. Canaccord's Series A Preferred Shares are listed on the TSX
under the symbol CF.PR.A.